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(Health-NewsWire.Net, December 16, 2021 ) The report "Bulk Food Ingredients Market by Primary Processed Type, Secondary Processed Type, Application (Food, Beverages), Distribution Channel (Direct From Manufacturers, Distributors), and Region - Global Forecast to 2026" The global bulk food ingredients market is projected to reach USD 1,008.1 billion by 2026, from USD 808.9 billion in 2021, at a CAGR of 4.5% during the forecast period.
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The rise in demand and preference for organic food products, bulk food ingredient manufacturers have been strategizing to develop innovative solutions for the market at a reasonable price. The surge in global Internet penetration would be another influential trend encouraging sales growth in terms of value. Staples, such as dairy, baked goods, and oils & fats, account for the largest share in the packaged food sales in both developed and developing countries. However, products such as confectionery, ice cream, and sweet and savory snacks are projected to drive growth in the bulk ingredients market for the next few years.
The grains, pulses, and cereals segment accounted for the largest market share of the primary processed bulk food ingredients market, nearly 63.1% in 2020
Grains, pulses, and cereals are dry, hard, and small seeds that are harvested for animal or human consumption. This segment includes wheat; rice; coarse grains such as rye, barley, corn, oats, and sorghum; and pulses comprising dry beans, peas, chickpeas, and lentils. Food consumption continues to rise due to the population growth, changing diets, rise in disposable income, and increase in urbanization that has resulted in a rise in demand for ready-to-eat or convenience food products. This, in turn, is projected to drive the demand for grains, pulses, and cereals.
The processed grains, pulses, and cereals segment accounted for the largest market share of secondary processed bulk food ingredients market, nearly 28.9% in 2020
Processed grains, pulses, and cereals include flaked, broken, polished, or cracked whole ingredients. These are most widely used in the manufacturing of food products, such as snacks, ready or convenience food products, and infant formulas, as well as beverages, including alcohol. The global rise in consumption of breakfast cereals has led to an increase in the consumption of cereal flakes. The demand for processed grains, pulses, and cereals is projected to grow at the highest rate in the Asia Pacific region due to the constant rise in disposable income and changing eating habits. The high fiber and protein content of these ingredients makes them a healthy and ideal component for various food products.
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Asia Pacific region is projected to witness the highest growth in the bulk food ingredients market by 2026.
As food processing investments in Asia Pacific are increasing, the rise in the utilization of bulk food ingredients in processed food is projected to drive the market growth in the coming years. The expansion of the middle-class population in Asian countries is projected to support the growth of the bulk food ingredients market in the region. In addition, the processed food market in the region witnesses a high demand, wherein consumer preferences constantly change due to rapid urbanization, diet diversification, and the liberalization of foreign direct investment in the food sector. Food items, such as breakfast snacks & cereals, infant formula, confectionery products, and bakery products, are widely consumed in this region and have intrinsic properties of functional food & beverages, which makes consumers receptive to products that have bulk food ingredients in them.
Key players in this market include Tate & Lyle PLC (UK), Archer Daniels Midland Company (US), DuPont (US), Olam International (Singapore), Cargill, Incorporated (US), Ingredion Incorporated (US), Associated British Foods plc (UK), EHL Ingredients (UK), DMH Ingredients, Inc. (US), and Community Foods Limited (UK). Some of the other players include McCormick & Company, Inc. (US), The Source Bulk Foods (Australia), Essex Food Ingredients (US), The Green Labs LLC (US), Ingredients Inc. (US), GCL Food Ingredients (UK), Pure Ingredients (Dublin), and Organic Partners International, LLC (US).
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